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US markets rallied ahead of key inflation data to start the fresh week on a positive note. Dow gained 1.16%, its biggest single day gain since June 15, both S&P and Nasdsq snapped a four day losing streak, gaining 0.90% and 0.61% respectively, small cap Russell 2000 closed just above the flat line.
USD index traded flat near 102.05, 10 year moved a bit higher near 4.10, cboe vix closed lower at 15.77.
Crude futures traded flat with small negative bias, WTI traded below 83, Brent below 86.
Indian stocks moved higher building on Friday's gains led by IT and Pharma names, Sensex added 232 points to close just below 66000 and Nifty added 80 points to close near 19600.
Stocks may continue to show positive momentum ahead of key inflation data in the US and RBI policy outcome on Thursday. Investors may continue to rebuild portfolios as the results season draws its end by the middle of the month. For participants the continuation of rotational trade remains the best play for the near term.
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By: via Telegram.me/AlliesFin #StockMarket #india
